Choosing the platform
As with the other two online investment platforms I chose, the selection of Klear was prompted by the fact that there was a positive review from a reliable national economic magazine. It is a Bulgarian platform with an international team.
As strange as it sounds, I was attracted to Klear by the smaller scale of the platform. As they are the Credit originator themselves, they vet the credits with a great precision. They are very personable and live up to their name – transparent, clear operations
Although the amount I have invested in Klear is smaller than the other platforms, the number of loans I have a share of is similar. Therefore, I am delighted to say, that in my portfolio of 80 loans, which is good diversification. It is safe to say, there is a very rare case of an instalment with a delay of more than a week.
Advantages and dissadvantages
There is no buyback guarantee, which is a downside. However, due to the diligent selection of approved credits, my hard earned money feels safe. If a credit fails, it is sold to debt collectors at a discount price. After the aqusition, everybody gets his share from the discounted price.
They are conservative in their profit estimations – about 5% and over deliver!
To sum up, there are platforms with greater profit. That being said, there is something about this platform which deeply resonates with me! They are at the beginning of their journey, and they strive for win-win situations. Therefore, I plan to bring the investment in the platform to the level of the rest soon.